Florian Grummes, Manager of Midas Touch Consulting, and InTheMoneyStocks. com’s chief market strategist, Gareth Soloway, spoke about Bitcoin at the Future Blockchain Summit in Dubai. We examine the long, medium and short-term predictions of the leading crypto money of famous names.
“parabolic movement is coming” in Bitcoin (BTC)!
While famous names were making predictions for Bitcoin’s short-term and long-term price movement, the issue of whether the biggest crypto currency should have inflation protection came to the fore. Seeing Bitcoin price heading towards the next $100,000, Grummes said that in the short term, the price momentum is too strong to warrant a major correction by the end of the year. “I think it looks like we’re going to run to $100,000, and I think we’ll see even crazier crypto parties by the end of the year,” says Grummes, who says “the last parabolic move is brewing” in Bitcoin.
As we reported , Grummes was previously short-term bearish, but has since changed his stance after the recent spike in prices. He says that once it hits $100,000, the momentum may stall and a “crypto winter” could be seen next year. In other words, it implies that prices will remain stagnant for a while from 2022. When asked whether Bitcoin will again be the top performing asset in 2022, Grummes replied, “I doubt it.”
Soloway sees Bitcoin climbing to $500,000 in the long-term due to the collapse of the current monetary system, but says that in the short-term, the price may be a little more volatile. “65. As long as we stay below $000, while I’m bullish in the long term, I’m on the bearish side in the short term,” he says.